As a fisherman, Abdurrahman goes to sea to catch fish and sells them to the big buyer. He has a speciality in selling fish: He only sells ornamental fish and lobster.
Abdurrahman wants to increase his business. He wants to directly sell the fish and lobster to the city to get a higher price. He needs a loan to make it. He borrowed 5,000,000 IDR (Indonesian rupiah) to purchase more ornamental fish and lobsters. Besides purchasing ornamental fish and lobsters, the loan will also be used to fix his boat.
He hopes his plan to sell directly to the city to get a higher price will work and he can earn a satisfactory profit. Abdurrahman has a dream to buy a car when he has enough money to make it easier to distribute the fish and lobsters to the city.
More information about this loan
This loan is part of MUK’s effort to reach small business owners in rural areas of Bali in Indonesia. Borrowers often lack collateral to be eligible for working capital loans and are located in areas where access to microfinance is limited. MUK organizes borrowers into groups that cross guarantee one another, allowing them to qualify for a loan. By funding this loan you are providing underserved borrowers with crucial capital to sustain their existing businesses.
About Koperasi Mitra Usaha Kecil (MUK)This loan is serviced by Koperasi Mitra Usaha Kecil (MUK), a microfinance cooperative headquartered in West Bali, Indonesia. MUK’s mission is to provide chronically poor people in Bali with opportunities to improve their lives, while raising social awareness of economic and environmental issues.
Most MUK clients live in rural settings on less than $1.25 per day. MUK’s financial products are targeted to clients’ productive activities including small businesses, farming, and livestock rearing. MUK supports clients with training in household budgeting, livestock rearing, and small business management.
MUK provides services to clients of all races and religions. For more information about MUK, please visit its partner page. Also, consider joining MUK’s Kiva lending team, Friends of Mitra Usaha Kecil.
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Success!! The loan was 100% repaid